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Akbank N.V. in brief
Akbank N.V., a wholly-owned subsidiary of Akbank T.A.S., was established in 2001 as a Dutch bank under the Banking Law and Regulations of the Netherlands. Akbank N.V. is a commercial bank licensed to undertake all banking transactions under the supervision of the Dutch Central Bank (De Nederlandsche Bank) and AFM ( Financial Markets Authority). In November 2008, the Bank relocated its head office from Rotterdam to Amsterdam. The Bank also covers the UK and Germany through its branches in London and Essen.
Akbank N.V.’s core business areas include corporate, retail and private banking as well as treasury activities; the Bank is also an active player in trade finance. Akbank N.V. provides savings and deposit products for the Dutch, British and German retail markets.
By establishing strong brand name recognition in retail banking within its peer group, Akbank N.V. strengthens its market position in its niche deposit market.
The Bank also caters to the needs of its esteemed clientele by developing private banking activities.
Subsidiary
Akbank AG is the wholly owned subsidiary of Akbank N.V.
Akbank AG was initially founded as Akbank T.A.S. Niederlassung Deutschland, the German branch of Akbank T.A.S. The branch received its full banking license in 1998 from BaFin and has continued to provide retail and corporate banking services. In 2005, the management of Akbank T.A.S decided to terminate its retail banking activities in Germany and focus solely on corporate banking. In line with this decision in 2007 Akbank’s 100% subsidary Akbank AG in Germany has been transferred to Akbank N.V. in the Netherlands at the book value registered in the records of 235 million Euro, as capital in kind as of May 31, 2007. This new subsidiary, Akbank AG, is registered with the court of Frankfurt am Main under HRB 78036; it took over all assets and liabilities of the former branch as of September 1, 2006.
Akbank AG’s core business lines include corporate lending and factoring.
Akbank AG is a long-standing member of the Deposit Protection Fund of the Association of German Banks, Einlagensicherungsfond.
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